The Charlottesville Scholarship Program is a unique public-private partnership established by the Charlottesville City Council in 2001. The Program provides assistance to those wishing to continue their education after high school. Eligibility Requirements
The Program is open to high school graduates regardless of age. Our scholarships are renewable through an entire education program, and awards usually increase each year – an important fact given that many colleges front-load first-year financial aid to students.
The Program is governed by a volunteer Board of Directors who set the organization’s policies, select scholarship recipients, and raise funds. There are no paid employees. The Charlottesville Scholarship Program is a scholarship fund of the Charlottesville Area Community Foundation.
The Charlottesville City Council provided the initial investment of $250,000 to establish the Charlottesville Scholarship Program fund. To date, more than 60 individuals have been helped in their quest for higher education.
The Charlottesville Scholarship Program fund operates as an endowment fund with an annual scholarship pool at 5% of the three-year fund average. Administrative and fund-raising expenses are kept to less than 2% of the fund balance.
Funds given to the Charlottesville Scholarship Program are divided with 60% going to the permanent endowment and 40% going to an annual scholarship fund which is used to supplement endowment funds to increase scholarship support.
In FY11, $25,000 was distributed to 11 returning scholars and 7 new scholars.
Because of reduced scholarship opportunities from other sources after the first year, returning scholars receive an increase in their scholarship each year.
Funds are raised from individual donors, businesses, and private foundation grants.